CNB Financial (CCNE) Coverage Initiated by Analysts at Keefe, Bruyette & Woods

Stock analysts at Keefe, Bruyette & Woods assumed coverage on shares of CNB Financial (NASDAQ:CCNE) in a note issued to investors on Tuesday, April 10th, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $35.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 21.36% from the stock’s previous close.

Several other research analysts have also recently commented on CCNE. BidaskClub cut shares of CNB Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, February 3rd. ValuEngine upgraded shares of CNB Financial from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded shares of CNB Financial from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Thursday, December 21st. Finally, Boenning Scattergood restated a “buy” rating and set a $29.50 target price on shares of CNB Financial in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.50.

How to Become a New Pot Stock Millionaire

Shares of CNB Financial stock traded down $0.31 on Tuesday, hitting $28.84. The company had a trading volume of 24,967 shares, compared to its average volume of 24,727. The stock has a market capitalization of $441.11, a PE ratio of 16.28 and a beta of 0.73. CNB Financial has a twelve month low of $20.91 and a twelve month high of $31.46. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.20.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Friday, February 2nd. The bank reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.13. The company had revenue of $29.34 million during the quarter, compared to analysts’ expectations of $29.26 million. CNB Financial had a net margin of 18.31% and a return on equity of 11.16%. equities analysts anticipate that CNB Financial will post 2.16 EPS for the current fiscal year.

In other CNB Financial news, Director Joel E. Peterson sold 2,000 shares of the stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $30.21, for a total value of $60,420.00. Following the completion of the sale, the director now owns 7,751 shares in the company, valued at $234,157.71. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Francis X. Straub III purchased 1,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was purchased at an average price of $26.91 per share, with a total value of $26,910.00. The disclosure for this purchase can be found here. Insiders have sold 2,414 shares of company stock valued at $72,624 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CCNE. SG Americas Securities LLC acquired a new stake in CNB Financial in the third quarter valued at $208,000. Wells Fargo & Company MN lifted its stake in CNB Financial by 53.0% in the third quarter. Wells Fargo & Company MN now owns 17,103 shares of the bank’s stock valued at $468,000 after acquiring an additional 5,928 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in CNB Financial by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 400,203 shares of the bank’s stock valued at $10,934,000 after acquiring an additional 19,807 shares during the last quarter. California Public Employees Retirement System lifted its stake in CNB Financial by 11.2% in the third quarter. California Public Employees Retirement System now owns 46,362 shares of the bank’s stock valued at $1,267,000 after acquiring an additional 4,662 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of CNB Financial by 36.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 28,261 shares of the bank’s stock valued at $742,000 after purchasing an additional 7,561 shares during the period. Hedge funds and other institutional investors own 42.84% of the company’s stock.

WARNING: “CNB Financial (CCNE) Coverage Initiated by Analysts at Keefe, Bruyette & Woods” was originally published by Week Herald and is the sole property of of Week Herald. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://weekherald.com/2018/04/17/cnb-financial-ccne-coverage-initiated-at-keefe-bruyette-woods.html.

CNB Financial Company Profile

CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. It accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.

Receive News & Ratings for CNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply